Retirement and Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2017

Defined Benefit Obligations and Funded Status [Table Text Block]

The following table, which includes only company-sponsored defined benefit plans, reconciles the beginning and ending balances of our projected benefit obligation and fair value of plan assets. We recognize the underfunded status of our defined benefit pension plans on our Consolidated Balance Sheets. We recognize changes in funded status in the year changes occur through other comprehensive income.



	December 31
	2017			2016
	(thousands)
Change in benefit obligation
Benefit obligation at beginning of year	$	460,192		$	484,079
Service cost	1,204			1,127
Interest cost	17,542			18,798
Actuarial loss	26,112			154
Benefits paid (a)	(21,525		)	(43,966		)
Benefit obligation at end of year	483,525			460,192

Change in plan assets
Fair value of plan assets at beginning of year	389,440			399,462
Actual return on plan assets	52,147			30,100
Employer contributions	2,193			3,844
Benefits paid (a)	(21,525		)	(43,966		)
Fair value of plan assets at end of year	422,255			389,440

Underfunded status	$	(61,270	)	$	(70,752	)

Amounts recognized on our Consolidated Balance Sheets
Current liabilities	$	(715	)	$	(804	)
Noncurrent liabilities	(60,555		)	(69,948		)
Net liability	$	(61,270	)	$	(70,752	)

Amounts recognized in accumulated other comprehensive loss
Net actuarial loss	$	50,787		$	59,540
Prior service cost	—			—
Net loss recognized	$	50,787		$	59,540

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(a)	Benefits paid during the year ended December 31, 2016 include approximately $21 million of lump-sum cash payments to certain terminated vested participants in settlement of pension obligations.

Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]

The components of net periodic benefit cost and other amounts recognized in other comprehensive income are as follows:



	Year Ended December 31
	2017			2016			2015
	(thousands)
Net periodic benefit cost
Service cost	$	1,204		$	1,127		$	739
Interest cost	17,542			18,798			19,067
Expected return on plan assets	(18,968		)	(20,324		)	(22,366		)
Amortization of actuarial loss	1,686			2,484			4,884
Plan settlement expense (a)	—			4,155			501
Net periodic benefit cost	1,464			6,240			2,825

Changes in plan assets and benefit obligations recognized in other comprehensive income
Net actuarial gain	(7,067		)	(9,622		)	(8,406		)
Amortization of actuarial loss	(1,686		)	(2,484		)	(4,884		)
Effect of settlements	—			(4,155		)	(501		)
Total recognized in other comprehensive income	(8,753		)	(16,261		)	(13,791		)
Total recognized in net periodic cost and other comprehensive income	$	(7,289	)	$	(10,021	)	$	(10,966	)

______________________________________


(a)	Plan settlement expense during the year ended December 31, 2016 includes a $3.9 million settlement charge related to lump-sum cash payments to certain terminated vested participants in settlement of pension obligations.

Schedule of Net Benefit Costs [Table Text Block]

The components of net periodic benefit cost and other amounts recognized in other comprehensive income are as follows:



	Year Ended December 31
	2017			2016			2015
	(thousands)
Net periodic benefit cost
Service cost	$	1,204		$	1,127		$	739
Interest cost	17,542			18,798			19,067
Expected return on plan assets	(18,968		)	(20,324		)	(22,366		)
Amortization of actuarial loss	1,686			2,484			4,884
Plan settlement expense (a)	—			4,155			501
Net periodic benefit cost	1,464			6,240			2,825

Changes in plan assets and benefit obligations recognized in other comprehensive income
Net actuarial gain	(7,067		)	(9,622		)	(8,406		)
Amortization of actuarial loss	(1,686		)	(2,484		)	(4,884		)
Effect of settlements	—			(4,155		)	(501		)
Total recognized in other comprehensive income	(8,753		)	(16,261		)	(13,791		)
Total recognized in net periodic cost and other comprehensive income	$	(7,289	)	$	(10,021	)	$	(10,966	)

______________________________________


(a)	Plan settlement expense during the year ended December 31, 2016 includes a $3.9 million settlement charge related to lump-sum cash payments to certain terminated vested participants in settlement of pension obligations.

Schedule of Assumptions Used [Table Text Block]

The following table presents the assumptions used in the measurement of our benefit obligations:



	December 31
	2017		2016
Weighted average assumptions
Discount rate	3.40	%	3.90	%
Rate of compensation increases (c)	—	%	—	%

The following table presents the assumptions used in the measurement of net periodic benefit cost:



	December 31
	2017		2016					2015
Weighted average assumptions
Discount rate (a)(b)	3.90	%	4.05	%	/	3.45	%	3.75	%	/	3.90	%
Expected long-term rate of return on plan assets (a)(b)	5.00	%	5.10	%	/	5.10	%	6.15	%	/	5.85	%
Rate of compensation increases (c)	—	%	—				%	—				%

_______________________________________


(a)	Prior to the remeasurement of our qualified defined benefit pension plan on November 1, 2016, the discount rate and expected rate of return on plan assets were 4.05% and 5.10%. The discount rate and expected rate of return on plan assets after the November 1, 2016 remeasurement were 3.45% and 5.10%, respectively.


(b)	Prior to the remeasurement of our qualified defined benefit pension plan on May 15, 2015, the discount rate and expected rate of return on plan assets were 3.75% and 6.15%. The discount rate and expected rate of return on plan assets after the May 15, 2015 remeasurement were 3.90% and 5.85%, respectively.


(c)	Pension benefits for all salaried employees are frozen, resulting in an assumption for the rate of compensation increase of zero. In addition to the salaried benefits being frozen, there are currently no scheduled increases in pension benefit rates applicable to past service covering a minimal amount of hourly employees who continue to accrue benefits.

Schedule of Allocation of Plan Assets [Table Text Block]

The following table sets forth by level, within the fair value hierarchy, the pension plan assets, by major asset category, at fair value at December 31, 2017 and 2016:



	December 31, 2017
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2) (a)		Significant Unobservable Inputs (Level 3)		Total
	(thousands)
Equity securities
Large-cap U.S. equity securities (b)	$	—	$	93,021	$	—	$	93,021
Small- and mid-cap U.S. equity securities (c)	—		17,187		—		17,187
International equity securities (d)	—		59,937		—		59,937
Fixed-income securities (e)	—		197,866		—		197,866
Total investments at fair value	$	—	$	368,011	$	—	368,011
Hedge fund measured at NAV (f)							27,021
Real estate fund measured at NAV (g)							25,894
Receivables and accrued expenses, net							1,329
Fair value of plan assets							$	422,255



	December 31, 2016
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2) (a)		Significant Unobservable Inputs (Level 3)		Total
	(thousands)
Equity securities
Large-cap U.S. equity securities (b)	$	—	$	88,686	$	—	$	88,686
Small- and mid-cap U.S. equity securities (c)	—		16,021		—		16,021
International equity securities (d)	—		59,675		—		59,675
Fixed-income securities (e)	—		173,679		—		173,679
Total investments at fair value	$	—	$	338,061	$	—	338,061
Hedge fund measured at NAV (f)							25,823
Real estate fund measured at NAV (g)							24,263
Receivables and accrued expenses, net							1,293
Fair value of plan assets							$	389,440

_______________________________________

(a)

Equity and fixed-income securities represent common collective trusts managed and valued by Russell Trust Company, the administrator of the funds. While the underlying assets are actively traded on an exchange, the funds are not. The investments in equity and fixed-income securities are considered to have a readily determinable fair value because the fair value per share (unit) is determined and published and is the basis for current transactions. We have the ability to redeem these equity and fixed-income securities with a one-day notice.

(b)

Invested in the Russell Large Cap U.S. Equity Fund at December 31, 2017 and 2016. The fund seeks returns that exceed the Russell 1000 Index by investing in large-capitalization stocks of the U.S. stock market. In addition, at December 31, 2017 and 2016, our investments in this category included the Russell 1000 Index Fund, which seeks to track the investment results of an index composed of large- and mid-capitalization stocks of the U.S. stock market.


(c)	Invested in the Russell Equity II Fund. The fund seeks returns that exceed the Russell 2500 Index by investing in the small- and mid-capitalization stocks of the U.S. stock market.

(d)

Invested in the Russell International Fund with Active Currency at December 31, 2017 and 2016, which benchmarks against the Russell Developed ex-U.S. Large Cap Index Net and seeks favorable total returns and additional diversification through investment in non-U.S. equity securities and active currency management. The fund participates primarily in the stock markets of Europe and the Pacific Rim and seeks to opportunistically add value through active investment in foreign currencies. In addition, at December 31, 2017 and 2016, our investments in this category included the Russell Emerging Market Fund, which benchmarks against the Russell Emerging Markets Index and is designed to maintain a broadly diversified exposure to emerging market countries.

(e)

Invested in the Russell Long Duration Fixed Income Fund at December 31, 2017 and 2016, which is designed to provide maximum total return through diversified strategies including sector rotation, modest interest rate timing, security selection, and tactical use of high-yield, emerging market bonds and other non-index securities. In addition, at December 31, 2017 and 2016, our investments in this category included the Russell Multi-Manager Bond Fund. The fund seeks to outperform the Barclays Capital U.S. Aggregate Bond Index over a full market cycle. The fund is designed to provide current income and, as a secondary objective, capital appreciation through a variety of diversified strategies, including sector rotation, modest interest rate timing, security selection, and tactical use of high-yield and emerging market bonds.

(f)

Invested in the AQR Delta Offshore Fund. The fund seeks to produce high risk-adjusted returns while targeting a low long-term average correlation to traditional markets. The fund invests internationally in a broad range of instruments, including, but not limited to, equities, currencies, convertible securities, futures, forwards, options, swaps, and other derivative products. The fair value of the hedge fund is estimated using the net asset value (NAV) of the investment as a practical expedient for fair value. We have the ability to redeem these investments at NAV within the near term. The fund is classified outside the fair value hierarchy tables because fair value is measured using the NAV per share practical expedient.

(g)

Invested in the Russell Real Estate Equity Fund. The fund seeks to obtain favorable total return through income and growth, and to outperform the NCREIF Open-End Diversified Core Equity Fund Index - Equal Weight. Real estate investments include those in limited partnerships, limited liability companies, and real estate investment trusts consisting of private real estate investments including office, apartment, retail, industrial, and other commercial properties. The fair value of the real estate fund is estimated using NAV of the investment as a practical expedient for fair value. Amounts realized on the sale of these investments may differ from the calculated values. We have the ability to redeem the real estate investments with a 110-calendar-day written notice prior to a quarterly trade date. The fund is classified outside the fair value hierarchy tables because fair value is measured using the NAV per share practical expedient. In November 2017, the RFIC provided notice to Russell to liquidate our position in the real estate fund and expects to transition the available proceeds to fixed-income securities early in second quarter 2018.

Schedule of Expected Benefit Payments [Table Text Block]

Qualified pension benefit payments are paid from plan assets, while nonqualified pension benefit payments are paid by the company. The following benefit payments are expected to be paid to plan participants (in thousands):



2018	$	22,702
2019	23,768
2020	24,501
2021	25,272
2022	25,885
Years 2023-2027	134,600